Mangalore Chemicals and fertilizers on a multi year breakout beyond the levels of 92 from October 2014.
I am using the Bollinger band pattern on my daily of every stock and index and I depict the same as in Dragon Shape. I this index has eaten up a lot in previous days and the weeks and now its time to flush it out. I am just viewing it to fall up to 31300 and then make a strong recovery for fresh Feed. As there is a big gap there.
From last 4 days the nifty is continuously making the higher lows and the higher highs not only the daily time frame but also on 15 min and the 1 hour time frame indicating the uptrend in the momentum. But still I strongly belive that market will correct for a once till the level of 14300 for the gap that I have indicated earlier in the chart,
Nifty has to test the levels near 14230-14306 so as to make new upmove towards15000 as there is big gap in the chart that needs to filled up.